From the perspective of macroeconomics:
Net capital outflow and net export are two concepts.
When the exchange rate rises, consider the depreciation of the local currency from two angles.
On the one hand, it is conducive to exports and improves the net export value;
On the other hand, because of the appreciation of foreign currency, the net outflow of capital (mainly from the perspective of investment) is more willing to invest in foreign assets because foreign currency is appreciating.
Textbooks are translated from foreign languages. So this sentence can't be understood literally. Divide him into two sentences.
The exchange rate rises and the local currency depreciates, leading to the outflow of domestic capital.
The exchange rate rises and the local currency depreciates, which is not conducive to imports and is beneficial to exports.
Very easy to understand.